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Market Report 16 November 2009
Review of the Week
As the nation draws ever closer to the season of goodwill and cheer, the markets on the whole continued their positive frame of mind with three of the four key indices gaining further ground.
The FTSE100 began the week at 5,142.72 and showed its intent to maintain a firm level above the 5,000 barrier as it pushed on further north to close the week out at 5,296.38, a rise of 2.99%. Over in the US, the Dow showed the same kind of spirit; having opened the week at 10,023.42 the index pushed ahead to close up at 10,270.47, a rise of 2.46%.
The story in Asia however was mixed with one key index up and the other down, carrying on the same format as the week before. The Nikkei 225 gave up ground again, this time falling a further 0.19% to close down at 9,770.31, having opened at 9,789.35. The Hang Seng gained ground again to finish the week at 22,553.63, a rise of 3.32% having opened at 21,829.72.
Oil and Gold had mixed fortunes. Oil began the week at just over 77 a barrel, but slipped back by the end of the week to close down just above 76 a barrel. Gold however, continued its meteoric rise to close the week up at 1,104 an ounce, having reached an all time high during the week of 1,122.85. Reasons for this continuing surge vary, from the continuing weaker US dollar and the large inflows of money onto Exchange Traded Funds as investors have sought a safer haven during the continuing financial uncertainty.
The Week Ahead
Having had a fairly hectic period of FTSE100 companies updating the market, this week is much quieter with only a handful reporting.
Monday will bring news from the miner Lonmin, whilst Tuesday will see news from British Land.
Wednesday will see updates from Experian and Land Securities and Thursday has news from National Grid and SAB Miller.
This data is provided by Andy Parsons, Advice Team Manager at The Share Centre. This is not intended to constitute an offer or agreement to buy or sell investments.
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2009-11-19 13:28:00 © Moneyextra.com
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